The world's No. 3 planemaker Embraer is open to new business partners after Boeing Co ditched a US$4.2 billion deal that was years in the making, the Brazilian company's chief executive told Reuters.
To do so, Gomes Neto will undo the costly separation process that readied Embraer's profitable commercial jet division for Boeing's takeover and bring all of its employees back under the same corporate roof. The commercial unit makes mid-range jets of up to 150 passengers, which compete directly with the Airbus A220. That plane was initially developed by a smaller company, Canada's Bombardier, whose jet project was acquired by the European planemaker.
"In these first few years coming out of the crisis we are going to have to prioritize many investments," Gomes Neto said."We have reduced all investments, some of them are close to zero."